Residential Properties Ltd. is excited to announce that RISMedia, recognized as one of the real estate industry’s definitive sources for news and information, recently released the results of its Annual Power Broker Report Top 1000, ranking Residential Properties Ltd. among the top producing real estate companies in the entire country. RPL came in at #313 in the nation for total sales volume during 2021 with $1,366,305,486 and ranked #454 for transactions.
For over 20 consecutive years, Residential Properties Ltd. has led all Rhode Island firms in overall sales volume. This past year, RPL set a new Statewide MLS record with $1,304,655,905 in total sales volume – over $317 million more than the next closest competitor. RPL also led the state in total transactions, finishing with 2,404 total sales.
Looking at the report, the trends reflect the extraordinary nature of the current market, with not enough supply to meet consumer demand. Home-sale prices rose to new heights, as the Top 1,000 respondents to this year’s Power Broker Survey reported a collective $2,468,407,918,793 in sales volume for 2021, representing 5,008,011 transactions. Not only does this mark a significant increase over 2020’s numbers, it serves as a powerful reminder of widespread inventory strain. While total sales volume increased by nearly $800 billion YoY, transactions only increased by about 750,000. The YoY average sales price for the Top 1,000 was $394,043 in 2020, while in 2021 the average sales price climbed to $492,857.
The report notes that for the fifth year in a row, respondents cited a lack of inventory as their top challenge, chosen by 79% of Power Brokers, a decrease from 84% in 2021, but higher than 2020’s 68%.
The RISMedia Power Broker Report is packed with interactive research charts, year-over-year data, and detailed Power Broker Profiles. Visitors can also use the innovative, dynamic directory to search the Top 1,000 Power Brokers by sales volume, company name, brand, and transaction rank. Each Power Broker Profile includes their 2021 sales volume and transactions, as well as comparisons to past years, their ranked status, their agent count and number of offices, and other important information. To learn more about the RISMedia Power Broker Report and view the complete rankings, visit RISMedia.com.
*Information based in whole or in part on data supplied by State-Wide Multiple Listing Service. The MLS does not guarantee and is not in any way responsible for its accuracy. Data maintained by the MLS may not reflect all real estate activity in the market. Based on information from Statewide MLS for 2021 as of April 2022.
